UBS Group Forecasts Strong Price Appreciation for General Motors (NYSE:GM) Stock

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective boosted by research analysts at UBS Group from $50.00 to $56.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the auto manufacturer’s stock. UBS Group’s price target suggests a potential upside of 6.24% from the company’s previous close.

A number of other research firms have also issued reports on GM. Citigroup assumed coverage on General Motors in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $62.00 target price on the stock. Mizuho lifted their price target on shares of General Motors from $53.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Barclays increased their target price on shares of General Motors from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Royal Bank Of Canada increased their target price on General Motors from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group dropped their price target on shares of General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has an average rating of “Hold” and an average price target of $54.61.

General Motors Stock Performance

NYSE GM opened at $52.71 on Monday. The business’s 50 day moving average is $49.63 and its two-hundred day moving average is $48.71. The stock has a market capitalization of $50.68 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 1.43 and a beta of 1.32. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 1.46. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to analysts’ expectations of $42.64 billion. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.62 earnings per share. Research analysts expect that General Motors will post 11.44 EPS for the current year.

Institutional Trading of General Motors

Large investors have recently made changes to their positions in the company. Brighton Jones LLC lifted its position in General Motors by 456.1% during the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer’s stock worth $2,062,000 after buying an additional 31,755 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in General Motors by 16.1% in the 4th quarter. Proficio Capital Partners LLC now owns 10,441 shares of the auto manufacturer’s stock valued at $556,000 after purchasing an additional 1,448 shares during the period. Farther Finance Advisors LLC increased its position in General Motors by 45.3% during the fourth quarter. Farther Finance Advisors LLC now owns 8,748 shares of the auto manufacturer’s stock worth $466,000 after acquiring an additional 2,727 shares during the period. Frank Rimerman Advisors LLC raised its position in shares of General Motors by 14.8% in the fourth quarter. Frank Rimerman Advisors LLC now owns 5,230 shares of the auto manufacturer’s stock valued at $279,000 after buying an additional 674 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in General Motors by 6.8% in the 4th quarter. Corient Private Wealth LLC now owns 353,506 shares of the auto manufacturer’s stock valued at $18,829,000 after acquiring an additional 22,475 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.